Businesses have increased their activity and investment forecasts for the next 12 months.

For the second month in a row, businesses have improved their business activity estimates for the next 12 months, maintaining optimistic forecasts for attracting investment but anticipating moderate inflation growth and the exchange rate, according to an NBU survey for the fourth quarter of 2024.

The Business Expectations Index was 101.8% compared to 100.6% in the third quarter. Survey participants maintained positive assessments of total sales volumes, strengthened forecasts for investments in machinery, equipment, and inventory, and also somewhat softened negative assessments of investments in construction works and the number of employees. It is noted that military operations and their consequences remain the largest factor affecting enterprises’ ability to increase production volumes.

According to respondents’ predictions, annual inflation in the next 12 months will be 10.3% (9.7% in the previous survey), and the exchange rate will reach ₴44.42 per $1 (₴43.72 per $1). Enterprises that attract foreign investment predict an increase in their volumes in the next 12 months.